Primerica, Inc. (NYSE:PRI) Given Consensus Rating of “Hold” by Brokerages

Primerica, Inc. (NYSE:PRI) has been given an average recommendation of “Hold” by the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $309.86.

PRI has been the subject of a number of research reports. Piper Sandler decreased their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Keefe, Bruyette & Woods upped their target price on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Morgan Stanley dropped their price target on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. TD Cowen upped their price objective on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th.

Primerica Stock Up 0.9 %

Shares of PRI stock opened at $278.28 on Wednesday. The stock has a market cap of $9.25 billion, a P/E ratio of 20.24 and a beta of 1.12. Primerica has a fifty-two week low of $184.76 and a fifty-two week high of $307.91. The business has a fifty day simple moving average of $284.19 and a 200-day simple moving average of $279.40.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, sell-side analysts anticipate that Primerica will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be issued a dividend of $1.04 per share. This is a positive change from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.49%. Primerica’s dividend payout ratio is currently 30.25%.

Primerica announced that its board has initiated a share buyback plan on Thursday, November 14th that allows the company to repurchase $450.00 million in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Primerica

In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the transaction, the insider now owns 200 shares in the company, valued at approximately $56,030. The trade was a 53.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of the sale, the president now directly owns 13,301 shares of the company’s stock, valued at $3,762,852.90. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,234 shares of company stock valued at $1,476,575 in the last 90 days. 0.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Primerica

Institutional investors have recently made changes to their positions in the stock. CIBC Asset Management Inc grew its stake in Primerica by 3.5% in the third quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 36 shares during the period. Mariner LLC raised its holdings in Primerica by 1.4% during the fourth quarter. Mariner LLC now owns 2,611 shares of the financial services provider’s stock worth $709,000 after acquiring an additional 36 shares in the last quarter. Kingsview Wealth Management LLC increased its position in Primerica by 0.7% during the third quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock worth $1,549,000 after buying an additional 43 shares during the last quarter. Dana Investment Advisors Inc. increased its position in Primerica by 1.2% during the fourth quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider’s stock worth $1,012,000 after buying an additional 45 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after buying an additional 54 shares during the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Company Profile

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.